Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[AlcoHoDL]

proudhon + gembitz = BULL!

Honfirmed!

[VB1001]

www.wohats.com

I was always curious to know the number of hats/year of registration.

(The year of registration in the forum has nothing to do with the date they decided to wear a hat)

[nullius]

[...] the confirmed fact that bitcoin has been in a confirmed downtrend for ~4 years because people have realized it doesn't work well.

That comes off as incredible—actually, idiotic to people who actually use Bitcoin.  Have you ever actually tried it?

I don't think this is true science and math

I am in Bitcoin because, in my confirmed empirical experience, the banking system “doesn’t work well”.  Sending and receiving money with banks is painful.  They demand piles of dox, they make you jump through hoops, transactions randomly fail because some “anti-fraud” system got tripped, they set limits (!) on how much money you can send and receive (!!)...  WTF?  How does anybody actually use this!?

That is my experience with banks.  Yes, with real, legal info—freely offering them everything short of a cavity search.  If you have ever had (e.g.) a genuine transaction declined with a “please call our fraud department (and wait on hold like an obedient dog awaiting Master’s attention) ‘for your protection’ (LOL)” message, then it is your experience, too—just perhaps, you didn’t take full cognizance of it, because you are used to being abused.

People’s continued submission to banks is either a global pandemic of masochism, or perhaps mass Stockholm Syndrome.  The banking system is horrible.  People are psychologically conditioned to accept it by the very nature of its arbitrary and perpetually shifting rules—otherwise stated, a mindfuck.  If a free man from the distant past time-travelled to the present and had a pile of bank forms and “KYC” demands shoved in his face, his first response would be indignation:  “Just who do you think you are to demand this of me?”  Banks are degrading to their “customers”.

Bitcoin works.  No doxing, no asking permission, no jumping through hoops like a trained circus animal for the privilege of using your own money.  Your.  Own.  Money.  How many people even know what that means anymore?

I enjoy actually using Bitcoin.  Sending and receiving money is so easy!  With the push of a button, I transact with anybody, anywhere in the world!  Wheeee!  It’s so simple and downright fun that sometimes, I spam testnet/regtest transactions to myself for sheer pleasure.

This is proven science and math.

Go, Bitcoin, go!

[cAPSLOCK]

[Torque]

https://twitter.com/michael_saylor/status/1306636046948610049

We acquired 21,454 BTC via 78,388 off-chain transactions, then secured it in cold storage with 18 on-chain transactions.  #Bitcoin scales just fine as a store of value.

TBH, I'm not sure why the Bitcoin community is high-fiving each other over this revelation.

I mean sure, it's exciting that a corporation has figured out how to take a large long position in BTC without rocking the boat. I'm sure that other corporations will begin to follow suit in the coming 3-6 months or within the year. The more institutional corporate hodlers, the better. This is overall good news.

But look, if the straight-laced corps with good intentions have figured out how do this, then so can the nefarious Wall Street whale traders as well as other country's seedy deep pocket whale traders (China, Russia, Germany, England, etc). These guys have hundreds of millions $$$, if not billions $$$, at their disposal too. And the difference is that they don't have to make any public announcements, or get their respective legal teams and corp shareholders involved to fight through a bunch of red tape and months of wrangling before they do it. They can and will take up such positions covertly. These types will be the first to dump all their btc at the top of the next bubble, for sure. This is not so great news.

[Biodom]

https://twitter.com/michael_saylor/status/1306636046948610049

We acquired 21,454 BTC via 78,388 off-chain transactions, then secured it in cold storage with 18 on-chain transactions.  #Bitcoin scales just fine as a store of value.

Fine, paid a lot of fees to miners (good boy)...honestly, I don't see a need to make 78K tx to get "just" 21K btc.
That's just being a bit severely paranoid. Why not buy some otc in chunks?

Did you not notice the “off-chain” part?  Ridiculous...

He paid fees for 18 on-chain transactions to miners.  Smart man.  He made ≈4355 Bitcoin transactions per tx that actually paid miner fees!

Off-chain transacting is the way of the future—the global public ledger is for secure synchronization of off-chain protocols.

Admittedly, I may be mixing issues and making too many assumptions there.  “Off-chain” could mean on a centralized exchange.  It could also mean Lightning Network, which is what I meant by “the way of the future”.  Or it could mean any number of other things.  (Just thinking aloud, perhaps he scooped up a bunch of WBTC, then redeemed it—LOL, that would also be “off-chain” in this context.)

Yes, what he calls off-chain looks like simple buying on exchange, and not even otc.
Pretty bizarre, actually:
https://twitter.com/michael_saylor/status/1306940165160656897

[nullius]

[nullius]

TBH, I'm not sure why the Bitcoin community is high-fiving each other over this revelation.

Left door:  Group psychology.
Right door:  Desire for bullish news, due to skin in the game.

What looks like probably a large long-term holding is good news.  0.2% of the total current BTC supply just moved from dumping bears and knife-juggling day-traders to cold storage.  Good.

Something else that does not seem to have been mentioned:  MicroStrategy is effectually dumping dollars.  Their big “cash reserve” is now much smaller; they are no longer HoDLing the dollar.  Hmmm...  As a dollar bear who has been warning people to dump dollars, I am thinking about what, of course, Saylor will not say even if (if) he is thinking it, too.

I mean sure, it's exciting that a corporation has figured out how to take a large long position in BTC without rocking the boat. I'm sure that other corporations will begin to follow suit in the coming 3-6 months or within the year. The more institutional corporate hodlers, the better. This is overall good news.

I myself tend to distrust institutional corporate holders; but there is nothing that I can do to stop them.

The more adoption by businesses (= the economically significant money in the productive economy, i.e. outside the extractive, destructive financial sector) and individuals (= attracts business), the better.

But look, if the straight-laced corps with good intentions have figured out how do this, then so can the nefarious Wall Street whale traders as well as other country's seedy deep pocket whale traders (China, Russia, Germany, England, etc). These guys have hundreds of millions $$$, if not billions $$$, at their disposal too. And the difference is that they don't have to make any public announcements, or get their respective legal teams and corp shareholders involved to fight through a bunch of red tape and months of wrangling before they do it. These types will be the first to dump all their btc at the top of the next bubble, for sure. This is not so great news.

That is similar to why I did not share the excitement about CME, etc. in late 2017.  And I was right...


Sometimes, simpler is better to avoid missing the point:

78,388 off-chain transactions
18 on-chain transactions.

Fine, paid a lot of fees to miners (good boy)...

He paid fees for 18 on-chain transactions to miners.  Smart man.

I should have avoided my speculation obiter dictum on what he meant by “off-chain”.

[cAPSLOCK]

https://twitter.com/michael_saylor/status/1306636046948610049

We acquired 21,454 BTC via 78,388 off-chain transactions, then secured it in cold storage with 18 on-chain transactions.  #Bitcoin scales just fine as a store of value.

TBH, I'm not sure why the Bitcoin community is high-fiving each other over this revelation.

I mean sure, it's exciting that a corporation has figured out how to take a large long position in BTC without rocking the boat. I'm sure that other corporations will begin to follow suit in the coming 3-6 months or within the year. The more institutional corporate hodlers, the better. This is overall good news.

But look, if the straight-laced corps with good intentions have figured out how do this, then so can the nefarious Wall Street whale traders as well as other country's seedy deep pocket whale traders (China, Russia, Germany, England, etc). These guys have hundreds of millions $$$, if not billions $$$, at their disposal too. And the difference is that they don't have to make any public announcements, or get their respective legal teams and corp shareholders involved to fight through a bunch of red tape and months of wrangling before they do it. They can and will take up such positions covertly. These types will be the first to dump all their btc at the top of the next bubble, for sure. This is not so great news.

Well i sort of see this as how you look at it.

Sure "bad actors" will take positions as well... after all Bitcoin is for all people.  Even people that hate it?  As it is said "Bitcoin is for enemies".

But I do NOT think MicroStrategy's position building had no effect on coins.  It might have had less than it would at market. But what it did was pull liquid coins away from people selling them.  There are 3X,XXX less of those now.

How could this be bad?

- Well selling pressure from miners could rise a little now assuming other whales are not in the background buying up OTC.

But that's just it.  If this keeps happening then market prices will suddenly start to lok good even WITH slippage, and you know what happens then.

I do not see how we can play "there goes the neighborhood" when bad guys start buying... That's what this was designed for. 

[Last of the V8s]

[BitcoinGirl.Club]

Good evening WO!
Observing @ $10,870
No significant change yet.

[Paashaas]

Venus Might Host Life, New Discovery Suggests
The unexpected atmospheric detection of phosphine, a smelly gas made by microbes on Earth, could spark a revolution in astrobiology

It was only a matter of time finding basic lifeforms, i expect they will find some on Mars also. Scientists think there is an ocean beneath the icy surface of Jupiter’s moon Europa, that ice shell is 15 to 25 kilometers (10 to 15 miles) thick, floating on an ocean 60 to 150 kilometers deep (40 to 100 miles). While Europa is only one fourth the diameter of Earth, its ocean may contain twice as much water as all of Earth’s oceans combined. Europa’s vast deep ocean is widely considered the most promising place to look for life beyond Earth. A closed ecosystem untouched for millions of years.

Our Milky Way Galaxy contains 400 billion stars with 7% of them being G-type. That means less than 6 billion stars may have 10 billion Earth like worlds of which could be in their stars habitable zones. That's a lot of planets to discover with potental life. Of course we don't have the tech to get there but alien life exist just because of the sheer numbers. It depens on which stage of evolution they are from plankton to intelligent species like a type 1/2/3 civilizations. The Milky Way is just 1 of trillions out there.

Earth is a young planet while human DNA dates back to 1 million years. The entire human life spawn is just a blink of an eye in Earth's time frame.

Ancient modern history dates back to ancient Greece? Mhe... when great Greek cholars like Thales, Hippocrates, Pythagoras, Socrates, Plato and Aristotle arrived in Egypt the great pyramids of Egypt where already ancient.

We lived for hundreds of thousands of years as cavemen but just a few thousands of years modern humans appeared and has developed on a blistering speed, how is that even possible? What happend to other civilizations like the one who cunstructed the pyramids ore the other megalithic structures in South-America? A civilization on top of another civilization i guess. I love history it gets really crazy the more i search.

[Paashaas]

Twitter CEO Jack Dorsey Might Allocate Some Corporate $10 Bln into Bitcoin: Willy Woo.

Prominent trader and entrepreneur Willy Woo has hinted that the head of Twitter, Jack Dorsey—who has $10 bln in corporate funds under his control—just might allocate part of that mammoth-sized amount to acquire Bitcoin in the near future to prevent this money from losing value.

[Biodom]

Twitter CEO Jack Dorsey Might Allocate Some Corporate $10 Bln into Bitcoin: Willy Woo.

Prominent trader and entrepreneur Willy Woo has hinted that the head of Twitter, Jack Dorsey—who has $10 bln in corporate funds under his control—just might allocate part of that mammoth-sized amount to acquire Bitcoin in the near future to prevent this money from losing value.

I was literally watching Pomp/Saylor interview discussing just this point when I read this message.
Wow.

[LFC_Bitcoin]

Twitter CEO Jack Dorsey Might Allocate Some Corporate $10 Bln into Bitcoin: Willy Woo.

Prominent trader and entrepreneur Willy Woo has hinted that the head of Twitter, Jack Dorsey—who has $10 bln in corporate funds under his control—just might allocate part of that mammoth-sized amount to acquire Bitcoin in the near future to prevent this money from losing value.

Go on @jack, you know it makes sense big man!

[aesma]

https://twitter.com/michael_saylor/status/1306636046948610049

We acquired 21,454 BTC via 78,388 off-chain transactions, then secured it in cold storage with 18 on-chain transactions.  #Bitcoin scales just fine as a store of value.

TBH, I'm not sure why the Bitcoin community is high-fiving each other over this revelation.

I mean sure, it's exciting that a corporation has figured out how to take a large long position in BTC without rocking the boat. I'm sure that other corporations will begin to follow suit in the coming 3-6 months or within the year. The more institutional corporate hodlers, the better. This is overall good news.

But look, if the straight-laced corps with good intentions have figured out how do this, then so can the nefarious Wall Street whale traders as well as other country's seedy deep pocket whale traders (China, Russia, Germany, England, etc). These guys have hundreds of millions $$$, if not billions $$$, at their disposal too. And the difference is that they don't have to make any public announcements, or get their respective legal teams and corp shareholders involved to fight through a bunch of red tape and months of wrangling before they do it. They can and will take up such positions covertly. These types will be the first to dump all their btc at the top of the next bubble, for sure. This is not so great news.

Why do that (and risk a dump) when they could be pumping instead, then dumping ?

[philipma1957]

Twitter CEO Jack Dorsey Might Allocate Some Corporate $10 Bln into Bitcoin: Willy Woo.

Prominent trader and entrepreneur Willy Woo has hinted that the head of Twitter, Jack Dorsey—who has $10 bln in corporate funds under his control—just might allocate part of that mammoth-sized amount to acquire Bitcoin in the near future to prevent this money from losing value.

Go on @jack, you know it makes sense big man!

Yeah I have been waiting for some big companies buying 100,000,000 or more in coin

[nullius]

[Last of the V8s]

Piss flaps?

[BitcoinGirl.Club]